The markets opened lower with the Dow falling 40 points to 16,858 as first time applications for unemployment benefits rose. Nasdaq lost 8 points to 4,694.
On the upside
The Wall Street Journal reported that Samsonite was close to finalizing a deal to acquire Tumi Holdings (NYSE: TUMI).
Verastem (Nasdaq: VSTM) reported a loss for the year but the company announced a clinical trial collaboration agreement with Pfizer (NYSE: PFE) and Merck to evaluate VS-6063 with avelumab in ovarian cancer patients.
Shares of Chesapeake Energy (NYSE: CHK) extended its gains.
On the downside
Ciena (NYSE: CIEN) reported a loss for the first quarter and forecast disappointing revenue for the current quarter.
The Habit Restaurants (Nasdaq: HABT) swung to a profit for the fourth quarter but the company forecast 2016 revenue below expectations.
SunEdison (NYSE: SUNE) suspended its dividend on preferred stock prompting a downgrade.
In the broad market, advancing issues were on par with decliners on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 lost 5 points to 1,980. Bitcoin slipped $3 to $422.
